2011-05-13T13:49:59-07:00 2010-06-30 990 2009-07-01 520591613 GOUCHER COLLEGE GOUC 4103376000 1021 Dulaney Valley Road Baltimore MD 21204 W Thomas Phizacklea 4103376000 2011-05-13 2009 2016-02-24 21:20:13Z Sanford J Ungar 1021 Dulaney Valley Road Baltimore MD 21204 142169954 0 X www.goucher.edu X 1885 MD Goucher College is dedicated to a liberal arts education that prepares students within a broad, global perspective for a life of inquiry, creativity, and critical and analytical thinking. 47 46 1822 996 442348 -147073 10266055 12035615 61478771 63521974 -2979506 2987788 2231326 2009866 70996646 80555243 17815751 19374572 0 0 36932903 36100262 0 0 3056766 24789050 25408116 79537704 80882950 -8541058 -327707 322737000 327219000 113720000 106289000 209017000 220930000 Goucher College is dedicated to a liberal arts education that prepares students within a broad, global perspective for a life of inquiry, creativity, and critical and analytical thinking. 0 0 59429569 18804177 57758933 The college provided an undergraduate Arts and Sciences education to 1,481 students. 4737528 570395 4798947 The college provided a graduate education to 798 students. 407053 0 634599 The college provided credit and non-credit continuing studies course work for approximately 100 participants. 599052 0 329495 The college provided summer educational experiences for 1,887 participants. 599052 0 329495 65173202 1 1 0 1 0 0 1 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 1 308 0 1 1822 1 1 1 1 BD 0 0 0 1 1 0 0 0 47 46 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MD X Ronald Alex Antkowiak 4103376060 1021 Dulaney Valley Road Baltimore MD 21204 Kimara Leigh Ahnert 91 1 X 0 0 0 Bruce D Alexander 1 X 0 0 0 Joe N Ballard 2.00 X 0 0 0 Patricia Kay Batza 91 8.00 X 0 0 0 David I Bavar 1 X 0 0 0 Jeanne V Beekhuis 49 1 X 0 0 0 Ethel Weber Berney 46 1 X 0 0 0 John M Bond Jr 8.00 X 0 0 0 Winifred Cohn Borden 66 1 X 0 0 0 Edward F Brennan P07 2 X 0 0 0 Robert Lee Bull Jr 93 1 X 0 0 0 Suzanne Fineman Cohen 56 1 X 0 0 0 William Couper P03 1 X 0 0 0 Harold Charles Donofrio Jr 1 X 0 0 0 Pierce B Dunn 3 X 0 0 0 Susanne D Emory 56 1 X 0 0 0 Janet T Farrell 73 1 X 0 0 0 Lynn Toby Fisher 71 3 X 0 0 0 Hilda E Ford 1 X 0 0 0 Norma Lynn Fox 76 3 X 0 0 0 Elaine K Freeman 1 X 0 0 0 Ronald E Geesey 2 X 0 0 0 Ann Burgunder Greif 39 1 X 0 0 0 Alice Falvey Greif 51 1 X 0 0 0 Edmund F Haile 1 X 0 0 0 Carla Diane Hayden 1 X 0 0 0 Katherine E Healy 1 X 0 0 0 Sally M Herman 68 3 X 0 0 0 Ellen Lipton Hollander 71 1 X 0 0 0 Fern Karesh Hurst 68 1 X 0 0 0 Miriam Brown Hutchins 73 1.00 X 0 0 0 Mary Bloom Hyman 71 1.00 X 0 0 0 Joan Jones 77 1 X 0 0 0 Miriam E Katowitz 73 2 X 0 0 0 Elizabeth K Knight 09 1 X 0 0 0 Dorothy B Krug 41 1 X 0 0 0 Florence Beck Kurdle 61 16 X 0 0 0 Ruth Shapiro Lenrow 74 1 X 0 0 0 David Richard Loevner 1 X 0 0 0 Nancy Helen Marcus 72 1 X 0 0 0 Sally J Michel 60 2 X 0 0 0 Michiko Yoshida Mitarai 66 1 X 0 0 0 Percy Thomas Moore 95 1 X 0 0 0 Thomas O Nuttle 1 X 0 0 0 Daniel Isaac Phillips 07 1 X 0 0 0 Anica Donnan Rawnsley 51 1 X 0 0 0 Russell R Reno Jr 1 X 0 0 0 William E Pugh II 94 1 X 0 0 0 Maria Amelia Rodriguez 49 1 X 0 0 0 Henry A Rosenberg Jr 2 X 0 0 0 Mary Katherine S Scheeler 49 1 X 0 0 0 Robin Fogel Shaivitz 72 1 X 0 0 0 SaraKay Sherman Smullens 62 1 X 0 0 0 J Richard Thomas Sr 1 X 0 0 0 George E Thomsen 2 X 0 0 0 Marlene Trestman 78 2.00 X 0 0 0 Barbara Elise Van Winkle 76 1 X 0 0 0 Theodore Venetoulis 1.00 X 0 0 0 Marilyn Southard Warshawsky 68 8.00 X 0 0 0 Toby Wertheim 68 2 X 0 0 0 Margaret Messler Winslow 69 3 X 0 0 0 Margaret Wood 08 1 X 0 0 0 Toni Perlman Young 67 1 X 0 0 0 Sanford J Ungar 40 X 524983 0 72817 W Thomas Phizacklea 40 X 163215 0 20223 Marc Roy 40 X 176510 0 22726 Gail Edmonds 40 X 131814 0 8363 William Leimbach 40 X 147938 0 9458 Janet Mulderrig 40 X 149555 0 9560 Lajerne Cornish 40 X 125502 0 6234 George Delahunty 40 X 124099 0 11817 1543616 0 161198 30 0 1 0 The Whiting-Turner Contracting Company 14900 Conference Center Drive Chantilly VA 20151 General contracting services 15509070 Bon Appetit Management Co 1021 Dulaney Valley Road Baltimore MD 21204 Food service provider 3908565 BENU Inc PO Box 60000 San Francisco CA 94160 Insurance brokerage services 1522878 Benefit Design Group LLC 600 Washington Avenue Towson MD 21204 Architectural Services 1899462 Constellation NewEnergy Inc PO Box 414578 Boston MA 022414578 Energy Service Provider 1285741 29 0 0 0 0 2365262 9670353 2062359 12035615 Undergraduate tuition, room and board 611310 57758933 57758933 0 0 Graduate tuition, room and board 611310 4798947 4798947 0 0 Continuing education program 611310 634599 634599 0 0 Summer school programs 611310 329495 329495 0 0 0 0 0 0 63521974 65965 0 0 65965 0 0 0 0 0 0 0 0 0 0 62824060 1712474 60413777 1200934 2410283 511540 2921823 0 0 2921823 0 2009866 101386 442348 1466132 2009866 80555243 63623360 442348 4453920 0 19374572 19374572 0 1246853 356474 601509 288870 28532187 21452624 5681753 1397810 515720 387757 102698 25265 3756046 2847865 727752 180429 2049456 1540934 408118 100404 0 0 0 0 5322 0 5322 0 65000 0 65000 0 17384 17384 709000 709000 1299790 924117 227032 148641 284434 151103 55038 78293 3212033 1977762 1060544 173727 504897 119224 376206 9467 0 0 0 0 4231084 3041477 1189607 0 1454022 1174185 10358 269479 0 0 0 0 375598 363990 5972 5636 3208973 3208973 0 0 0 0 0 0 5454463 4363570 818169 272724 387069 0 387069 0 Food service costs 3530078 3530078 0 0 Food 405412 276880 36535 91997 Staff development costs 13968 2314 11654 0 Dues and memberships 249589 79303 156262 14024 80882950 65173202 12652982 3056766 14695000 8433000 0 0 4903000 3409000 2426000 2221000 2792000 2728000 966000 905000 197565000 63007000 128646000 134558000 121034000 124453000 34205000 40089000 5645000 2357000 7425000 8066000 322737000 327219000 11874000 5812000 3222000 3611000 85055000 82057000 13569000 14809000 113720000 106289000 X 62540000 79003000 73201000 66367000 73276000 75560000 209017000 220930000 322737000 327219000 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 0 0 1 6391 0 1 10993 17384 0 SchC_P2B_S00_L01 Schedule C, Part II-B, Line 1 The college paid membership dues of $68,709 in the aggregate to the National Association of Independent Colleges and Universities (NAICU) and to the Maryland Independent Colleges and Universities Association (MICUA), both of which engage in lobbying activity. MICUA allocated sixteen percent of the dues paid to it to engage in nondeductible lobbying and to make political expenditures. Accordingly, the college has reported as expense for lobbying activity an amount equal to sixteen percent of membership dues paid on line 1i. 0 0 X X X X X Education 0 149443000 3471000 15739000 3241000 7037000 0 158375000 201483000 3165000 -45127000 3061439 7016561 0 149443000 0.2 0.8 0 1 0 0 10265000 10265000 0 157464000 43611000 113853000 0 0 0 0 0 29620000 19396000 10224000 0 216000 0 216000 134558000 16070000 F 24019000 F 40089000 Deposits with Bond Trustee 2357000 F 2357000 Split Interest Agreement 8066000 8066000 0 Other long term liablities 1138000 Refundable advances from the U.S. Government 2342000 Payables and deferred revenues under split interest agreements 1222000 Asset retirement obligation 2272000 Obligation under interest rate swap agreement 7835000 14809000 80555243 80882950 -327707 5892000 0 0 0 6348706 12240706 11912999 68783000 0 0 0 10278000 10278000 58505000 0 22050243 22050243 80555243 61046000 0 0 0 156 156 61045844 709000 19128106 19837106 80882950 SchD_P03_S00_L01 Schedule D, Part III, Line 1 The college did not disclose its collection and related policies in its financial statements. SchD_P03_S00_L04 Schedule D, Part III, Line 4 The Goucher College art collection comprises works of fine art and decorative art, including two-dimensional and three-dimensional art objects and miscellaneous objects of value, which are owned by the college and are housed in buildings or on the campus grounds of Goucher College, or are loaned by the college to other institutions. The collection includes sculptures, prints, photographs, drawings, paintings and other artistic objects. The collection is used for scholarly research, education, and public exhibition in the furtherance of the exempt purposes of the college. SchD_P05_S00_L04 Schedule D, Part V, Line 4 The endowment of Goucher College generates income to support the college both generally and in specific ways designated by our generous donors. Income, allocated across approximately 700 endowment funds, supports both merit and need-based scholarships of undergraduate and graduate students; undergraduate and graduate fellowships; undergraduate and graduate internships; lectureships; the college library; as well as the college's general operating budget. SchD_P10_S00_L00 Schedule D, Part X The College is qualified as a not-for-profit organization under Section 501(c)(3) of the Internal Revenue Code, as amended. Accordingly, the College is not subject to income taxes except to the extent it has taxable income from activities that are not related to its exempt purpose. No provision for income taxes was required for fiscal 2010 or 2009. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 A decrease of $1,716,000 is from the change in fair value of interest rate swap agreements, and an increase of $8,065,177 is the net of (a) $10,278,000 in appropriation of endowment assets for expenditure plus $709,000 of investment expenses reported on line 11f of Part IX minus (b) $2,921,823 in realized gains from investments reported on line 3 of the Form 990, Part VIII. This amount reflects a $471 rounding adjusmtent. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Endowment assets appropriated for expenditure SchD_P12_S00_L04b Schedule D, Part XII, Line 4b $19,128,106 of tuition discount reported as a contra-revenue in the audited financial statements was moved to the statement of functional expenses. $2,921,823 of realized gains from investments reported below the line in "other." This amount reflects a $314 rounding adjustment. SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Rounding adjustment. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b $19,128,106 of tuition discount reported as a contra-revenue in the audited financial statements was moved to the statement of functional expenses. 1 1 1 The racially nondiscriminatory policy is published in the college's academic catalogue, student handbook, and on the website. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 The college participates in the following federal programs which provide financial aid to undergraduate and graduate students: Pell Grant Program, Supplemental Educational Opportunity (SEOG) Program, Federal Work Study Program, National Science and Math Access to Retain Talent Grant Program, Academic Competitive Grant Program, and the Perkins Loan Program. The college also receives grants from the Maryland State Department of Education, Maryland Higher Education Commission, and the Maryland Department of General Services. In addition, the college was awarded sponsored research and other project grants by the U.S. Department of Justice, the U.S. Department of Housing and Urban Development, the National Science Foundation, National Institutes of Health, NASA, and the U.S. Department of Education. 1 Central America and the Caribbean 0 0 Program Services Tuition, room, board, and programming expenses for undergraduate students and staff studying abroad 175426 East Asia and the Pacific 0 0 Program Services Tuition, room, board, and programming expenses for undergraduate students and staff studying abroad. 206055 Europe (including Iceland and Greenland) 0 0 Program Services Tuition, room, board, and programming expenses for undergraduate students and staff studying abroad. 368077 Middle East and North Africa 0 0 Program Services Tuition, room, board, and programming expensess for undergraduate students and staff studying abroad. 10716 Sub-Saharan Africa 0 0 Program Services Tuition, room, board and programming expenses for undergraduate students and staff studying abroad. 37629 0 0 797903 1 Undergraduate and graduate student grants and scholarships made by the institution 1910 0 19128106 Tuition credits Prizes, awards, internships and fellowships 206 246466 0 SchI_P01_S00_L02 Schedule I, Part I, Line 2 Goucher College's grant funds are limited to need-based and merit-based financial assistance for attendance at the college. Goucher College's comprenensive program of need-based and merit-based financial assistance is managed by the Office of Student Financial Aid. As a member of the College Board and in keeping with the principles and practices of the College Scholarship Service, financial aid is awarded to properly qualified candidiates on the basis of the financial need of students and their families. Financial need is determined by subtracting the Expected Family Contribution (as calculated on the Free Application of Federal Student Aid (FAFSA) and the Profile Form of the College Scholarship Service) from the student's total cost of attendance. Financial aid is awarded for one year only and must be renewed annually. Need-based aid is renewed to continuing students who demonstrate need and who are making satisfactory progress toward their degrees. Institutional merit-based scholarship requirements vary depending on the award. Compliance with these requirements are also overseen by the Office of Student Financial Aid. X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Sanford J Ungar 331403 0 0 0 195544 0 38678 0 34139 0 599764 0 195544 0 Marc Roy 183546 0 0 0 0 0 11541 0 11185 0 206272 0 0 0 W Thomas Phizacklea 172287 0 0 0 0 0 10833 0 9389 0 192509 0 0 0 Janet Mulderrig 148500 0 0 0 0 0 9338 0 222 0 158060 0 0 William Leimbach 146896 0 0 0 0 0 9237 0 221 0 156354 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a A residence and a personal automobile, along with limited personal services, are provided for the convenience of the president of the college. Personal use of the automobile is included in the president's taxable income as reported on the W-2. The college also pays membership dues for a social club used by the president. MD Health & Higher Education Facilities Authority 520936091 574217TC9 2004-08-18 21808859 Finance the cost of a 70,000 square foot 185 bed residence hall with a classroom and student commons 0 0 MD Health & Higher Education Facilities Authority (Series 2007) 520936091 574217H32 2007-10-31 31285000 Construction of 100,000 sq.ft. facility: library, academic & social spaces, art gallery, cafe, etc. 0 0 22768462 2333904 0 0 332341 0 20344006 2005 0 0 1 1 32262336 1 0 20050 540555 0 31701731 2009 0 0 0 1 0 0 0 0 1 0.0 0 0.0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 1 0 1 0 0 0 0 William Couper Serves as an officer, director, key employee, or member of an entity doing business with the college 34355 Bank service fees 0 Joan Wilterdink Spouse of Marc Roy (Provost) 20000 Teaching wages 0 X 54 1729010 FMV-Trade date X 1 0 Not reported X Horses 9 214636 Appraisal X Gift Annuities 4 68712 NRV at date of gift X Archival records - dance and music collection 1 0 Not reported 1 0 1 1 SchM_P01_S00_L32b Schedule M, Part I, Line 32b PNC, a third party financial institution, serves as custodian for the college's equity securities gift account. There is a standing order to liquidate all stock when received. Generally, that order is carried out within a few days of receipt, limiting any gain or loss on the sale of equity securities. F990_P06_S0B_L11 Form 990, Part VI, Section B, Line 11 The Form 990, excluding Schedule B (Contributor Information), and Form 990T were distributed electronically to the Board of Trustees on April 27th for a period of review and comment lasting ten days. Due to the sensitive nature of the information contained therein, Schedule B was made available to members of the Audit and Governance Committee and Executive Committee upon request. During the period of comment and review, a meeting of the Audit and Governance Committee of the Board of Trustees was convened to review and revise (if necessary) the return prior to recommending it for approval to the Executive Committee. The form was approved for filing by the Executive Committee of the Board of Trustees on May 10, 2011. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Every trustee, officer, and key employee is provided a copy of the Conflict of Interest Policy each spring, and required to complete an annual disclosure form reporting any actual or potential conflicts of interest. General Counsel reviews the disclosure forms and reports any disclosures to the Audit & Governance Committee of the Board of Trustees. Committee members then determine what, if any, action should be taken as to each disclosure, and such actions are implemented by the General Counsel. The policy directs the committee to review and update the list of key employees, and the policy itself is reviewed on a regular basis, and revised as necessary. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 Early each fall the College President distributes to the Board of Trustees the President's Goals and Objectives ("Goals and Objectives") for the current year. Each spring Goucher receives data from the College and University Professional Association (CUPA) on compensation at comparable institutions, including Goucher's peer group, other local colleges, and prospective overlap institutions. The Human Resources Director prepares these figures for review by the College President and by the Compensation Committee of the Board. In addition, each spring the Chair of the Board asks Board members to supply the Board Chair or the Chair of the Compensation Committee with any comments a Board member may have on the President's performance with respect to the President's Goals and Objectives. After reviewing all of these materials, the Compensation Committee meets with the President to review compensation recommendations for Senior Staff, evaluate the President's performance, and recommend compensation for the President. The Compensation Committee's role with respect to compensation for Senior Staff is to determine whether any recommendation from the President includes excess benefits. The Compensation Committee then reviews with the President the President's performance with respect to the Goals and Objectives, and then meets in executive session to determine its recommendation to the Executive Committee of the Board as to the President's compensation for the next fiscal year. The Executive Committe then acts on that recommendation. The Compensation Committee Chair provides the General Counsel of the College with a confidential report of the deliberations of the Compensation Committee and the Executive Committee and of the Executive Committee's action. This report includes the CUPA comparability data on which the final determinations were based. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The governing documents, conflict of interest policy, and financial statements are available to the public upon request. Most college policies are also available to the public on the college website, www.goucher.edu. F990_P07_S0A_L04 Form 990, Part VII, Section A, Line 4 Sanford J. Ungar was required by the IRS to take a distribution in 2009 of compensation accrued to him over a number of years under a 457(f) deferred compensation plan. This distribution was reported in column B(iii) of Schedule J, Part II. Because these amounts were earned and reported in prior years' returns, these amounts were also reported in column (F) of Schedule J, Part II. SchK_P01_S00_L00 Schedule K, Part I Issue B (2007 Bonds): The college allocated equity to the financing of the cafe portion of the constructed facility. Therefore, it was not expected that any portion of the facility financed with proceeds of the Bonds would give rise to private business use. SchK_P02_S00_L02 Schedule K, Part II, Line 2 Gross proceeds in reserve funds of Issue A (2004 Bonds) include $626,962 allocable to the debt service interest fund as of June 30, 2010 and included $922,343 of sale and investments proceeds allocated to capitalized interest on the Bonds. SchK_P02_S00_L05 Schedule K, Part II, Line 5 $17,407 of the proceeds from Issue B (2007 Bonds) were used to pay the initial letter of credit maintenance fee. Other than payment for the initial fee, such fees are not paid from Bond proceeds. SchK_P03_S00_L03a Schedule K, Part III, Line 3a The institution allocated equity to finance the cafe portion of the facilities financed in part by proceeds from Issue B (2007 Bonds). Therefore, any management or service contracts related to the operation of the cafe do not give rise to private business use since this space was not financed with proceeds of the Bonds. SchK_P03_S00_L04 Schedule K, Part III, Line 4 The facilities financed with the proceeds from Issue A (2004 Bonds) are not used in a manner that gives rise to private business use. SchK_P04_S00_L01 Schedule K, Part IV, Line 1 (1) The college is not required to file an IRS Form 8038-T with respect to Issue A (2004 Bonds). The arbitrage rebate calculations prepared for the issue as of the Bond's five-year anniversary date indicated that no rebate liability accrued. Therefore, a rebate payment was not required. (2) Issue B (2007 Bonds) has not reached the first five-year anniversary date. Therefore, an IRS Form 8038-T has not been filed.